| * * * * * * * * * * * * * * * * *
IN THE MATTER OF: MORTGAGE PLUS LLC ("Respondent")
* * * * * * * * * * * * * * * * * |
* * * * * * * * * * * * * * * |
NOTICE OF INTENT TO REVOKE NOTICE OF INTENT TO ISSUE NOTICE OF INTENT TO IMPOSE AND NOTICE OF RIGHT TO HEARING |
I. LEGAL AUTHORITY AND JURISDICTION
The Banking Commissioner (“Commissioner”) is charged with the administration of Part I of Chapter 668, Sections 36a-485 to 36a-534c, inclusive, of the Connecticut General Statutes, “Mortgage Lenders, Correspondent Lenders, Brokers and Loan Originators”.
Pursuant to the authority granted by Section 36a-17 of the 2012 Supplement to the General Statutes, as amended by Public Act 12-96, and Section 36a-498f of the Connecticut General Statutes, the Commissioner, through the Consumer Credit Division (“Division”) of the Department of Banking, has investigated the activities of Respondent to determine if it continues to meet the minimum qualifications for licensure under the provisions of the Connecticut General Statutes within the jurisdiction of the Commissioner and whether it has violated, is violating or is about to violate the provisions of the Connecticut General Statutes within the jurisdiction of the Commissioner.
Section 36a-17(a) of the 2012 Supplement to the General Statutes, as amended, provides, in pertinent part, that:
The commissioner, in the commissioner’s discretion, may, subject to the provisions of section 36a-21 and the Freedom of Information Act, as defined in section 1-200; (1) make such public or private investigations or examinations within or outside this state, concerning any person subject to the jurisdiction of the commissioner, as the commissioner deems necessary to carry out the duties of the commissioner . . . .
Section 36a-498f(a) of the Connecticut General Statutes provides, in pertinent part, that:
In addition to any authority provided under this title, the Banking Commissioner shall have the authority to conduct investigations and examinations as follows:
(1) For purposes of . . . license renewal, . . . license revocation or termination, or general or specific inquiry or investigation to determine compliance with sections 36a-485 to 36a-498f, inclusive, 36a-534a and 36a-534b, the commissioner may access, receive and use any books, accounts, records, files, documents, information or evidence including, but not limited to: (A) Criminal, civil and administrative history information; (B) personal history and experience information including independent credit reports obtained from a consumer reporting agency described in Section 603(p) of the federal Fair Credit Reporting Act, 15 USC 1681a; and (C) any other documents, information or evidence the commissioner deems relevant to the inquiry or investigation regardless of the location, possession, control or custody of such documents, information or evidence.
Subsections (a) and (b) of Section 36a-51 of the 2012 Supplement to the General Statutes provide, in pertinent part, that:
(a) The commissioner may . . . revoke or refuse to renew any license issued by the commissioner under any provision of the general statutes by sending a notice to the licensee by registered or certified mail, return receipt requested, or by any express delivery carrier that provides a dated delivery receipt. The notice shall be deemed received by the licensee on the earlier of the date of actual receipt or seven days after mailing or sending. Any such notice shall include: (1) A statement of the time, place, and nature of the hearing; (2) a statement of the legal authority and jurisdiction under which the hearing is to be held; (3) a reference to the particular sections of the general statutes . . . involved; (4) a short and plain statement of the matters asserted; and (5) a statement indicating that the licensee may file a written request for a hearing on the matters asserted within fourteen days of receipt of the notice. . . .
(b) If a hearing is requested within the time specified in the notice, the commissioner shall hold a hearing upon the matters asserted in the notice unless the licensee fails to appear at the hearing. After the hearing, the commissioner shall . . . revoke or refuse to renew the license for any reason set forth in the applicable licensing provisions of the general statutes if the commissioner finds sufficient grounds exist for such . . . revocation or refusal to renew. If the licensee does not request a hearing within the time specified in the notice or fails to appear at the hearing, the commissioner shall . . . revoke or refuse to renew the license. No such license shall be . . . revoked except in accordance with the provisions of chapter 54.
Section 36a-52(a) of the Connecticut General Statutes provides, in pertinent part, that:
Whenever it appears to the commissioner that any person has violated, is violating or is about to violate any provision of the general statutes within the jurisdiction of the commissioner, . . . the commissioner may send a notice to such person by registered or certified mail, return receipt requested, or by any express delivery carrier that provides a dated delivery receipt. The notice shall be deemed received by the person on the earlier of the date of actual receipt, or seven days after mailing or sending. Any such notice shall include: (1) A statement of the time, place, and nature of the hearing; (2) a statement of the legal authority and jurisdiction under which the hearing is to be held; (3) a reference to the particular sections of the general statutes . . . alleged to have been violated; (4) a short and plain statement of the matters asserted; and (5) a statement indicating that such person may file a written request for a hearing on the matters asserted within fourteen days of receipt of the notice. If a hearing is requested within the time specified in the notice, the commissioner shall hold a hearing upon the matters asserted in the notice, unless the person fails to appear at the hearing. After the hearing, the commissioner shall determine whether an order to cease and desist should be issued against the person named in the notice. If the person does not request a hearing within the time specified in the notice or fails to appear at the hearing, the commissioner shall issue an order to cease and desist against the person. No such order shall be issued except in accordance with the provisions of chapter 54.
Section 36a-50(a) of the Connecticut General Statutes, as amended by Public Act 12-96, provides, in pertinent part, that:
1) Whenever the commissioner finds as the result of an investigation that any person has violated any provision of the general statutes within the jurisdiction of the commissioner, . . . the commissioner may send a notice to such person by registered or certified mail, return receipt requested, or by any express delivery carrier that provides a dated delivery receipt. The notice shall be deemed received by the person on the earlier of the date of actual receipt or seven days after mailing or sending. Any such notice shall include: (A) A statement of the time, place, and nature of the hearing; (B) a statement of the legal authority and jurisdiction under which the hearing is to be held; (C) a reference to the particular sections of the general statutes . . . alleged to have been violated; (D) a short and plain statement of the matters asserted; (E) the maximum penalty that may be imposed for such violation; and (F) a statement indicating that such person may file a written request for a hearing on the matters asserted not later than fourteen days after receipt of the notice.
(2) If a hearing is requested within the time specified in the notice, the commissioner shall hold a hearing upon the matters asserted in the notice unless such person fails to appear at the hearing. After the hearing, if the commissioner finds that the person has violated any such provision, . . . the commissioner may, in the commissioner’s discretion and in addition to any other remedy authorized by law, order that a civil penalty not exceeding one hundred thousand dollars per violation be imposed upon such person. If such person does not request a hearing within the time specified in the notice or fails to appear at the hearing, the commissioner may, as the facts require, order that a civil penalty not exceeding one hundred thousand dollars per violation be imposed upon such person.
(3) Each action undertaken by the commissioner under this subsection shall be in accordance with the provisions of chapter 54.
Section 4-182 of the Connecticut General Statutes provides, in pertinent part, that:
(b) When a licensee has made timely and sufficient application for the renewal of a license . . . , the existing license shall not expire until the application has been finally determined by the agency . . . .
(c) No revocation, suspension, annulment or withdrawal of any license is lawful unless, prior to the institution of agency proceedings, the agency gave notice by mail to the licensee of facts or conduct which warrant the intended action, and the licensee was given an opportunity to show compliance with all lawful requirements for the retention of the license. . . .
II. MATTERS ASSERTED
| 1. |
Respondent is a Connecticut limited liability company with its main office at 95 Main Street, Norwalk, Connecticut. |
| 2. |
Respondent has been licensed as a mortgage broker in Connecticut on the Nationwide Mortgage Licensing System and Registry (“NMLS”) since April 5, 2011. |
| 3. |
On August 15, 2011, NMLS posted an automated deficiency for Respondent’s failure to have filed its mortgage call report for the second quarter of 2011 which was due on August 14, 2011. Respondent filed such report on December 9, 2011. |
| 4. |
On November 15, 2011, NMLS posted an automated deficiency for Respondent’s failure to have filed its mortgage call report for the third quarter of 2011 which was due on November 14, 2011. Respondent filed such report on December 9, 2011.
|
| 5. |
On December 1, 2011, the Commissioner, through the Division, conducted an examination of Respondent. |
| 6. |
On December 15, 2011, Respondent requested renewal of its license to act as a mortgage broker in Connecticut for the 2012 licensing period. |
| 7. | On February 15, 2012, NMLS posted an automated deficiency for Respondent’s failure to have filed its mortgage call report for the fourth quarter of 2011 which was due on February 14, 2012. |
| 8. | On March 7, 2012, the Commissioner, through the Division, posted to Respondent’s NMLS account a deficiency, which stated, in pertinent part: “Please be advised that the system generated deficiency for the Mortgage Call Report must be cleared before your . . . renewal can be approved. . . .” |
| 9. | On March 31, 2012, NMLS posted an automated deficiency for Respondent’s failure to have filed its financial statement for 2011. |
| 10. | Also on March 31, 2012, NMLS posted an automated deficiency for Respondent’s failure to have filed the financial condition section of the mortgage call report for the fourth quarter of 2011 which was due on March 30, 2012. |
| 11. | On April 30, 2012, as a result of the December 1, 2011 examination, the Division mailed the Report of Examination (“ROE”) to Respondent, and requested that a detailed report of corrective action taken by Respondent to the citations contained in the ROE be submitted to the Division within thirty (30) days. |
| 12. | On May 16, 2012, NMLS posted an automated deficiency for Respondent’s failure to have filed its mortgage call report for the first quarter of 2012 which was due on May 15, 2012. |
| 13. | On May 23, 2012, pursuant to Section 4-182(c) of the Connecticut General Statutes, the Division sent a letter to Respondent indicating, among other things, that one or more quarterly call reports, the financial statement for 2011 and the financial condition section of the mortgage call report for 2011 were not filed as required, and that such deficiencies may cause the Commissioner to be unable to make the findings required by Section 36a-489(a)(2)(A) of the 2012 Supplement to the General Statutes for renewal of Respondent’s main office license for the 2012 licensing period, and may separately constitute a violation of law. The letter also gave Respondent an opportunity to show compliance with all lawful requirements for retention of its mortgage broker license in Connecticut (“Compliance Letter”) no later than June 6, 2012. Respondent received the Compliance Letter, sent by certified mail, return receipt requested, on May 24, 2012. |
| 14. | On June 18, 2012, Respondent submitted to NMLS the information requested by the Compliance Letter, as more fully described in paragraph 10 above, and related to the deficiencies described in paragraphs 7, 9, 10 and 12. |
| 15. | On June 19, 2012, the Division sent a letter to Respondent’s owner indicating that the requested detailed report of corrective action taken by Respondent as a result of the ROE, as more fully described in paragraph 11 above, had not been received. |
| 16. | On June 26, 2012, the Commissioner, through the Division, posted to Respondent’s NMLS account a deficiency, which stated, in pertinent part: “The date on the balance sheet does not reflect the company’s fiscal year end 2011 (12/31 as recognized on the MU1 form). Please upload a new ‘annual filing’ reflecting the appropriate date. . . .” |
| 17. | On July 16, 2012, NMLS posted an automated deficiency for Respondent’s failure to have filed its net worth financial statement for fiscal year 2011. |
| 18. |
On July 18, 2012, the Commissioner, through the Division, posted to Respondent’s NMLS account a deficiency, which stated, in pertinent part:
The company’s most recently uploaded balance sheet recognizes that the entity is not currently meeting the net worth requirement of a licensed mortgage broker (of $50,000). Please upload a more recent balance sheet that accurately demonstrates the company as meeting this requirement (please be advised that additional documentation may be requested to verify amounts recognized on this balance sheet). . . . |
| 19. | On August 15, 2012, NMLS posted an automated deficiency for Respondent’s failure to have filed its mortgage call report for the second quarter of 2012 which was due on August 14, 2012. Respondent filed such report on September 13, 2012. |
| 20. |
On August 30, 2012, the Commissioner, through the Division, posted to Respondent’s NMLS account a deficiency, which stated, in pertinent part:
It appears the qualifying individual recognized on the company MU1 form does not meet the minimum requirements for the position (per the Connecticut General Statutes). Please recognize a new qualifying individual. Additionally, please provide a resume for the newly recognized qualifying individual. . . . |
| 21. | On August 31, 2012, pursuant to Section 4-182(c) of the Connecticut General Statutes, the Division sent a letter to Respondent indicating, among other things, that as a result of the December 1, 2011, examination and information on Respondent’s NMLS account, Respondent appeared to have violated: (1) Section 36a-486(b)(1) of the 2012 Supplement to the General Statutes by employing an unlicensed mortgage loan processor/underwriter; (2) Sections 36a-488(a)(1) and 36a-488(a)(2) of the 2012 Supplement to the General Statutes by failing to demonstrate that it has maintained the required minimum tangible net worth; (3) Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes by not filing the residential mortgage loan activity component of the mortgage call report for the second quarter of 2012; and (4) Section 36a-489(a)(2) of the 2012 Supplement to the General Statutes by having a qualified individual who does not meet the minimum standards required for such position. The letter also gave Respondent an opportunity to show compliance with all lawful requirements for retention of its mortgage broker license in Connecticut (“Second Compliance Letter”) no later than September 14, 2012. Respondent received the Second Compliance letter, sent by certified mail, return receipt requested, on September 4, 2012. |
| 22. | On September 14, 2012, the Division received Respondent’s response to the ROE and Second Compliance Letter. Such response was not detailed, lacked supporting evidence and was factually inaccurate. |
| 23. |
To date, Respondent has failed to provide a detailed response to the ROE and a complete response to the Second Compliance Letter.
|
III. STATUTORY BASIS FOR REVOCATION AND REFUSAL TO
RENEW MORTGAGE BROKER LICENSE, ORDER TO CEASE AND
DESIST AND IMPOSITION OF CIVIL PENALTY
Section 36a-17(d) of the 2012 Supplement to the General Statutes, as amended, provides, in pertinent part, that:
Any person who is the subject of any such investigation . . . [or] examination . . . shall . . . otherwise cooperate with the commissioner.
Section 36a-494(a)(1) of the 2012 Supplement to the General Statutes, as amended by Public Act 12-96, provides, in pertinent part, that:
The commissioner may . . . revoke or refuse to renew any . . . mortgage broker license or take any other action, in accordance with the provisions of section 36a-51, for any reason which would be sufficient grounds for the commissioner to deny an application for such license under sections 36a-485 to 36a-498f, inclusive, . . . 36a-534a and 36a-534b, . . . or if the commissioner finds that the licensee . . . has done any of the following: . . . (C) violated any of the provisions of this title . . . .
Section 36a-489(a)(1) of the 2012 Supplement to the General Statutes, as amended by Public Act 12-96, provides, in pertinent part, that:
The commissioner shall not issue an initial license for a . . . mortgage broker unless the commissioner, at a minimum, finds that: (A) The applicant meets the requirements of subsection (a) of section 36a-488 . . . ; (C) the applicant demonstrates that the financial responsibility, character and general fitness of the applicant, the control persons of the applicant and the qualified individual . . . are such as to command the confidence of the community and to warrant a determination that the applicant will operate honestly, fairly and efficiently within the purposes of sections 36a-485 to 36a-498f, inclusive, . . . 36a-534a and 36a-534b . . . . If the commissioner fails to make such findings, the commissioner shall not issue a license . . . .
Section 36a-489(a)(2) of the 2012 Supplement to the General Statutes, as amended by Public Act 12-96, provides, in pertinent part, that:
(A) The minimum standards for license renewal for a . . . mortgage broker shall include the following: (i) The applicant continues to meet the minimum standards under subdivision (1) of this subsection . . . .
(B) The license of a . . . mortgage broker failing to satisfy the minimum standards for license renewal shall expire. . . .
Section 36a-488(a)(1) of the 2012 Supplement to the General Statutes, as amended by Public Act 12-96, provides, in pertinent part, that:
The commissioner shall not issue . . . a mortgage broker license to any person unless such person meets the following tangible net worth . . . requirements, as applicable: (A) . . . the minimum tangible net worth requirement for . . . a mortgage broker shall be . . . (ii) on and after March 2, 2009, fifty thousand dollars, and (B) a . . . mortgage broker shall have, at the main office for which the license is sought, a qualified individual . . . (i) who . . . [has] supervisory authority over the lending or brokerage activities, (ii) who . . . [has] at least three years’ experience in the mortgage business within the five years immediately preceding the date of the application for the license, (iii) who, effective April 1, 2010, . . . [has] completed the prelicensing education requirement described in section 36a-489a . . . and passed a written test that meets the test requirement in section 36a-489a . . . . As used in this subdivision, “experience in the mortgage business” means paid experience in the origination, processing or underwriting of residential mortgage loans, the marketing of such loans in the secondary market or in the supervision of such activities, or any other relevant experience as determined by the commissioner.
Section 36a-488(a)(2) of the 2012 Supplement to the General Statutes provides:
(2) Each licensee shall maintain the net worth required by this subsection.
Section 36a-488(b) of the 2012 Supplement to the General Statutes provides, in pertinent part, that:
On and after July 1, 2008, an application for a license as a . . . mortgage broker office or renewal of such license shall be filed, in a form prescribed by the commissioner, with the system. . . . The following supplementary information shall be filed directly with the commissioner: (1) In the case of an initial application for a license for the main office, (A) a financial statement as of a date not more than twelve months prior to the filing of the application which reflects tangible net worth, and if such financial statement is unaudited, the proprietor, general partner, or duly authorized officer, trustee or member shall swear to its accuracy under oath before a notary public . . . ; and (3) such other information pertaining to the applicant . . . as the commissioner may require. . . .
Each mortgage lender, mortgage correspondent lender, [or] mortgage broker . . . licensee shall timely submit to the system reports of condition that shall be in such form and shall contain such information as the system may require.
Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes, as amended by Public Act 12-96, effective October 1, 2012, provides, in pertinent part, that:
Each mortgage lender, mortgage correspondent lender, [or] mortgage broker . . . licensee shall timely submit to the system accurate reports of condition that shall be in such form and shall contain such information as the system may require. Failure by a licensee to submit a timely and accurate report of condition shall constitute a violation of this provision.
Section 36a-494(b) of the 2012 Supplement to the General Statutes, as amended by Public Act 12-96, provides, in pertinent part, that:
Whenever it appears to the commissioner that (1) any person has violated, is violating or is about to violate any of the provisions of sections 36a-485 to 36a-498f, inclusive, . . . 36a-534a and 36a-534b, . . . the commissioner may take action against such person . . . in accordance with sections 36a-50 . . . and 36a-52.
| 1. |
Respondent’s failure to timely provide the Commissioner a complete and accurate response to the ROE and Second Compliance Letter, as more fully described in paragraphs 5, 11, 15, 21, 22 and 23, of the Matters Asserted, renders the Commissioner unable to determine that Respondent demonstrates financial responsibility, character and general fitness such as to command the confidence of the community and to warrant a determination that Respondent will operate honestly, fairly and efficiently within the purposes of Sections 36a-485 to 36a-498f, inclusive, 36a-534a and 36a-534b of the Connecticut General Statutes. Such failure would be sufficient grounds for the Commissioner to deny an application for a mortgage broker license under Section 36a-489(a)(1)(C) of the 2012 Supplement to the General Statutes, as amended, and would be sufficient grounds for the Commissioner to revoke and to refuse to renew Respondent’s license to act as a mortgage broker in Connecticut for the 2012 licensing period pursuant to Section 36a-494(a)(1) and subsections (a) and (b) of Section 36a-51 of the 2012 Supplement to the General Statutes. Such failure to demonstrate financial responsibility, character and general fitness also causes Respondent to fail to meet minimum standards for renewal under Section 36a-489(a)(2) of the 2012 Supplement to the General Statutes, as amended, which shall cause such license to expire. |
| 2. |
Respondent’s failure to timely provide the Commissioner with a complete and accurate response to the ROE and Second Compliance Letter, as more fully described in paragraphs 5, 11, 15, 21, 22 and 23 of the Matters Asserted, constitutes a failure by Respondent to fully cooperate with the Commissioner, in violation of Section 36a-17(d) of the 2012 Supplement to the General Statutes, as amended. Such violation constitutes grounds to revoke and refuse to renew Respondent’s license to act as a mortgage broker in Connecticut for the 2012 licensing period pursuant to Sections 36a-494(a)(1)(C) and subsections (a) and (b) of Section 36a-51 of the 2012 Supplement to the General Statutes, and forms the basis to issue an order to cease and desist pursuant to Section 36a-52(a) of the Connecticut General Statutes, and impose a civil penalty pursuant to Section 36a-50(a) of the Connecticut General Statutes, as amended. Section 36a-50(a) of the Connecticut General Statutes, as amended, authorizes the Commissioner to impose a civil penalty upon Respondent in an amount not to exceed One Hundred Thousand Dollars ($100,000) per violation. |
| 3. |
Respondent’s violation of: (1) Section 36a-486(b)(1) of the 2012 Supplement to the General Statutes by employing an unlicensed mortgage loan processor/underwriter; (2) Sections 36a-488(a)(1) and 36a-488(a)(2) of the 2012 Supplement to the General Statutes by failing to demonstrate that it has maintained the required minimum tangible net worth; (3) Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes by not filing the residential mortgage loan activity component of the mortgage call report for the second quarter of 2012; and (4) Section 36a-489(a)(2) of the 2012 Supplement to the General Statutes by having a qualified individual who does not meet the minimum standards for such position, as more fully described in paragraph 21 of the Matters Asserted, constitutes grounds to revoke and refuse to renew Respondent’s license to act as a mortgage broker in Connecticut for the 2012 licensing period pursuant to Sections 36a-494(a)(1)(C) and subsections (a) and (b) of the 2012 Supplement to the General Statutes, and forms the basis to issue an order to cease and desist pursuant to Section 36a-494(b) of the 2012 Supplement to the General Statutes, as amended, and Section 36a-52(a) of the Connecticut General Statutes, and impose a civil penalty pursuant to Section 36a-494(b) of the 2012 Supplement to the General Statutes, as amended, and Section 36a-50(a) of the Connecticut General Statutes, as amended. Section 36a-50(a) of the Connecticut General Statutes, as amended, authorizes the Commissioner to impose a civil penalty upon Respondent in an amount not to exceed One Hundred Thousand Dollars ($100,000) per violation. |
IV. NOTICE OF INTENT TO REVOKE AND REFUSE TO RENEW MORTGAGE
BROKER LICENSE, NOTICE OF INTENT TO ISSUE ORDER TO CEASE
AND DESIST, NOTICE OF INTENT TO IMPOSE CIVIL PENALTY
AND NOTICE OF RIGHT TO HEARING
WHEREAS, the Commissioner has reason to believe that Respondent has engaged in acts or conduct which constitutes sufficient grounds for the Commissioner to revoke and refuse to renew Respondent’s license to act as a mortgage broker in Connecticut for the 2012 licensing period pursuant to Sections 36a-494(a)(1) and 36a-494(a)(1)(C) and subsections (a) and (b) of Section 36a-51 of the 2012 Supplement to the General Statutes, and forms the basis to issue an order to cease and desist pursuant to Section 36a-494(b) of the 2012 Supplement to the General Statutes, as amended, and Section 36a-52(a) of the Connecticut General Statutes, and impose a civil penalty pursuant to Section 36a-494(b) of the 2012 Supplement to the General Statutes, as amended, and Section 36a-50(a) of the Connecticut General Statutes, as amended.
NOW THEREFORE, notice is hereby given to Respondent that the Commissioner intends to REVOKE and REFUSE TO RENEW Respondent’s license to act as a mortgage broker in Connecticut, issue an order requiring Respondent to CEASE AND DESIST from violating Section 36a-17(d) of the 2012 Supplement to the General Statutes, as amended, and Sections 36a-486(b)(1), 36a-488(a)(1), 36a-488(a)(2), 36a-489(a)(2) and 36a-534b(c)(3) of the 2012 Supplement to the Connecticut General Statutes, and impose a CIVIL PENALTY upon Respondent as set forth herein, subject to Respondent’s right to a hearing on the allegations set forth above.
A hearing will be granted to Respondent if a written request for a hearing is received by the Department of Banking, Consumer Credit Division, 260 Constitution Plaza, Hartford, Connecticut 06103-1800 within fourteen (14) days following its receipt of this Notice of Intent to Revoke and Refuse to Renew Mortgage Broker License, Notice of Intent to Issue order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing as set forth in subsections (a) and (b) of Section 36a-51 of the 2012 Supplement to the General Statutes, Section 36a-52 of the Connecticut General Statutes and Section 36a-50 of the Connecticut General Statutes, as amended. This Notice of Intent to Revoke and Refuse to Renew Mortgage Broker License, Notice of Intent to Issue order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing shall be deemed received on the earlier of the date of actual receipt, or seven days after mailing or sending. The enclosed Appearance and Request for Hearing Form must be completed and mailed to the above address. If Respondent will not be represented by an attorney at the hearing, please complete the Appearance and Request for Hearing Form as “pro se”. Once a written request for hearing is received, the Commissioner may issue a notification of hearing and designation of hearing officer that acknowledges receipt of a request for a hearing, designates a hearing officer and sets the date of the hearing in accordance with Section 4-177 of the Connecticut General Statutes and Section 36a-1-21 of the Regulations of Connecticut State Agencies. If a hearing is requested, the hearing will be held on March 20, 2013, at 10 a.m., at the Department of Banking, 260 Constitution Plaza, Hartford, Connecticut.
The hearing will be held in accordance with the provisions of Chapter 54 of the Connecticut General Statutes, unless Respondent fails to appear at the requested hearing. At such hearing, Respondent will have the right to appear and present evidence, rebuttal evidence and argument on all issues of fact and law to be considered by the Commissioner.
If Respondent does not request a hearing within the time prescribed, the Commissioner will issue an order revoking and refusing to renew Respondent’s license to act as a mortgage broker in Connecticut, which order shall cause Respondent’s mortgage broker license in Connecticut to be deemed expired, will issue an order that Respondent cease and desist from violating Section 36a-17(d) of the 2012 Supplement to the General Statutes, as amended, and Sections 36a-486(b)(1), 36a-488(a)(1), 36a-488(a)(2), 36a-489(a)(2) and 36a-534b(c)(3) of the 2012 Supplement to the Connecticut General Statutes, and may order a civil penalty in an amount not to exceed One Hundred Thousand Dollars ($100,000) per violation be imposed upon Respondent.
Issued at Hartford, Connecticut
this 16th of January 2013. ________/s/_________
Howard F. Pitkin
Banking Commissioner
CERTIFICATION
I hereby certify that on this 16th day of January 2013, the foregoing Notice of Intent to Revoke and Refuse to Renew Mortgage Broker License, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing was sent by certified mail, return receipt requested, to Mortgage Plus LLC, Attention: Richard Longo, Manager, 95 Main Street, Norwalk, Connecticut 06851, certified mail no. 70112000000247319971.
________/s/_________
Doniel Kitt
Prosecuting Attorney